, ensuring liquidity and restoring confidence in banks. Furthermore, in both periods, the banking system was recapitalized …

The authors study the impact that the liquidity crunch in 2008-2009 had on the U.S. economy's growth trend. To this end …, the authors propose a model featuring endogenous productivity a la Romer and a liquidity friction a la Kiyotaki-Moore. A … key finding in the authors' study is that liquidity declined around the Lehman Brothers' demise, which led to the severe …

This paper argues that counter-cyclical liquidity hoarding by financial intermediaries may strongly amplify business … funding liquidity risk in their inter- mediation activity. Importantly, the amount of liquidity reserves held in the financial … liquidity, which strongly amplifies the initial shock and induces credit crunch dynamics sharing key features with the Great …